Prio Enters the Pre-Salt, with the Acquisition Of the Wahoo and Itaipu Fields

19 November 2020

PRIO announced the acquisition of 35.7% of the Wahoo field and 60% of the Itaipu field, thus becoming, subject to the necessary approvals, the operator of both fields, marking the Company's entry into the pre-salt. The purchase was made from BP Energy do Brasil. 


Wahoo, with the potential to produce more than 140 million barrels (100% of the field), with oil discovery in 2008, and formation testing conducted in 2010, fits perfectly into PRIO's value generation strategy. With the development of the field, the Company will form another production cluster, and will share the entire infrastructure with the Frade Field (including the FPSO), thus enabling the capture of several synergies resulting in another strong and sustainable reduction of lifting cost, always maintaining the highest standards of safety and efficiency. 

Wahoo is located 30-35 km north of Frade, with a water depth of 1,400m, and has a carbonate reservoir in the pre-salt layer at a depth of 5 to 7 thousand meters. The oil in the field is of excellent quality, with 30º API, low viscosity, and associated gas that will be used in the power generation of the Frade FPSO. 


Itaipu, discovered in 2009 with 3 pilot wells drilled, is close to the Parque das Baleias cluster, and preliminary studies indicate that the accumulation is potentially shared with the southeast region of the cluster. In this way, the development of this area can go through a process of unitization, before any definition of development.

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